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U.S. stocks were poised for a flat open Tuesday after President Obama's warning on the risk of a potentially devastating default.
Stocks started the week in the red Monday.
Economy: The Conference Board's July consumer confidence report and the Commerce Department's new home sales report, will be out at 14:00 GMT.
Economists expect that consumer confidence fell slightly in July. New home sales for June are expected to remain roughly unchanged at an annual rate of 320,000 units.
Companies: Ford (F, Fortune 500) reported better than expected quarterly net income of $2.4 billion, down 7% from a year earlier. Sales climbed 13% to $35.5 billion. Shares gained 2% in premarket trading.
Before the opening bell, BP (BP) reported earnings of $5.6 billion - a stark contrast to last year's second-quarter loss of $17.2 billion, when the company was struggling with the Gulf oil spill.
Delivery company UPS (UPS, Fortune 500) reported earnings per share of $1.05, beating expectations by one cent.
3M (MMM, Fortune 500) reported earnings per share of $1.60 per share, that in-line with forecasts. Shares dropped 3% in premarket trading.
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